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Private debt activity is growing. While banks, institutions and the agencies are taking a bulk of the pie, private lenders are filling a void for small and mid-sized operators. To find out more about this activity, what is driving private debt and to get an outlook on private capital activity this year, we sat down with Brendan Miller, chief investment officer at Thorofare Capital, for an exclusive interview.
GlobeSt.com: What role is private debt play in the capital markets today?
Brendan Miller: Private debt is fulfilling a void in the capital markets, particularly for the benefit of smaller and mid-sized real estate operators as traditional banks have focused on servicing larger borrowing relationships. The primary role of private debt is to provide capital to bridge a Borrower through their business plan, which can include a renovation, repositioning through new or active management, or even a bridge to sale.
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